Chicago wheat futures dipped during Asian trading on Friday and were on track for a weekly decline, with concerns easing over the impact of rain-damaged crop in China on global supplies. Corn and soybeans also fell and headed for weekly losses as expectations of plentiful supplies outweighed worries about dryness hitting U.S. crop. FUNDAMENTALS.
Brazil posted a $11.4 billion trade surplus in May, marking a record for any given month since the data series began in 1989, official data showed on Thursday. The figure also came above the $9 billion surplus expected in a Reuters poll with economists, backed by a surge in the volume of exports that more than offset price drops.
By Julie Ingwersen. U.S. soybean and corn futures rose on Thursday on worries about dryness building in the Midwest crop belt, while a setback in the dollar and commodity fund buying at the start of a new month lent additional support, analysts said. Chicago Board of Trade wheat rose more than 2%, extending Wednesday's rebound from a 2-1/2 year low.
- The United Nations is concerned about the continuous slowdown of the implementation of a Black Sea grain export deal between Russia and Ukraine, spokesman Stephane Dujarric said on Thursday. Only 33 vessels departed Ukrainian ports in May, less than half the number observed during April, Dujarric told reporters at a regular press briefing.
The U.N. has proposed that Kyiv, Moscow and Ankara start preparatory work for the transit of Russian ammonia through Ukraine as it tries to salvage a deal allowing safe Black Sea grain exports, a source close to the talks said on Wednesday.
- A merger of U.S. grains merchant Bunge Ltd (BG) with rival Viterra would grow the combined entity's businesses in the U.S., Brazil and Australia and may raise competition concerns in parts of Canada and Argentina, where key oilseed processing assets overlap, analysts said.
A merger of U.S. grains merchant Bunge Ltd (BG) with rival Viterra would grow the combined entity's businesses in the U.S., Brazil and Australia and may raise competition concerns in parts of Canada and Argentina, where key oilseed processing assets overlap, analysts said.
Brazil is exporting a combined 120,000 tonnes of soybeans to buyers in the United States, shipping data seen by Reuters showed, as the price of the oilseed in the world's largest soybean supplier is a bargain even for importers in the No. 2 producing nation.
The U.N. has proposed that Kyiv, Moscow and Ankara start preparatory work for the transit of Russian ammonia through Ukraine as it tries to salvage a deal allowing safe Black Sea grain exports, a source close to the talks said on Wednesday.
Brazil's economy likely surged back to growth in the first quarter of the year, powered by record-breaking crops and solid crude oil output that more than offset the drag of subdued manufacturing activity, a Reuters poll of economists showed.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required